Chicago-based JLL Income Property Trust has acquired a 145,000-square-foot distribution center in southwest suburban Dallas. The property, a Class A industrial distribution center, is 100 percent leased to Fruit of the Earth for an eight-year period running through January 2027.
The acquired property is located five miles south of DFW International Airport in the Great Southwest submarket and is centrally located between Dallas and Fort Worth, making it attractive to local distributors and national companies alike.
“The acquisition of this industrial distribution center continues our strategic approach to grow our industrial allocation through investments in modern, strategically located properties that provide steady income through long-term leases,” JLL Income Property Trust President and CEO Allan Swaringen said in a statement. “This investment brings our aggregate industrial allocation to $670 million and over 6.3 million square feet representing 26 percent of the value of the overall JLL Income Property Trust portfolio.”
JLL Income Property Trust is an institutionally managed, daily NAV REIT that gives investors access to a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world's leading real estate services firms.